Avenue Supermarts Ltd Share Price

History of Avenue Supermarts Ltd

Avenue Supermarts Limited was incorporated as 'Avenue Supermarts Private Limited' on May 12, 2000, at Mumbai, Maharashtra as a Private Limited Company. Subsequently, name of the Company was changed to Avenue Supermarts Limited due to conversion from a Private Company to a Public Company and a fresh Certificate of Incorporation was issued to the Company by RoC on May 3, 2011. Avenue Supermarts Limited (DMart) is a national supermarket chain, with a focus on value-retailing. The Company offer a wide range of products with a focus on the Foods, Non-Foods (FMCG) and General Merchandise & Apparel product categories. Since launching of first store in 2002 in Mumbai, Maharashtra, DMart has grown to 415 stores with a retail business area of 17.2 million sq. ft. spread across Maharashtra (116), ...Gujarat (66), Telangana (45), Karnataka (40), Andhra Pradesh (41), Madhya Pradesh (24), Tamil Nadu (26), Rajasthan (22), Punjab (19), NCR (9), Chhattisgarh (6) and Daman (1). The supermarket chain of DMart stores is owned and operated by Avenue Supermarts Ltd. (ASL). The company has its headquarters in Mumbai. The brands D Mart, D Mart Minimax, D Mart Premia, D Homes, Dutch Harbour, etc are brands owned by ASL. DMart is a one-stop supermarket chain that aims to offer customers a wide range of basic home and personal products under one roof. Each DMart store stocks home utility products - including food, toiletries, beauty products, garments, kitchenware, bed and bath linen, home appliances and more - available at competitive prices. The company's core objective is to offer customers good products at great value. DMart was started by Mr. Radhakishan Damani and his family to address the growing needs of the Indian family. From the launch of its first store in Powai in 2002, DMart today has a well-established presence in 154 locations across Maharashtra, Gujarat, Andhra Pradesh, Madhya Pradesh, Karnataka, Telangana, Chhattisgarh, NCR, Tamil Nadu, Punjab and Rajasthan. In 2007, DMart entered Gujarat with its first store in the state. In 2010, the total store count of our company crossed 25 stores and the audited consolidated revenue crossed Rs 1000 crore mark. In 2012, the store count of the company crossed 50 stores. In 2014, the store count of our company increased to 75 stores. In 2015, audited consolidated revenue of the company crossed Rs 5000 crore mark. In 2016, the store count of our company increased to 110 and the consolidated revenues crossed Rs 7500 crore mark. Company made a public issue of 62,541,806 equity shares of face value of Rs 10 each by raising funds aggregating to Rs 1870 Cr in March, 2017 through fresh issue. On 2 February 2018, Avenue Supermarts (ASL) acquired 4.35 crore equity shares of Rs 10 each, fully paid-up, of Avenue E-Commerce Limited aggregating to Rs 49.21 crore. Pursuant to this, Avenue E-Commerce Limited became a wholly-owned subsidiary of Company. During 2018-19, 21 new stores were opened taking the count to 176 stores. As of 31st March, 2019, DMart had 176 stores with retail business area of 5.9 million sq.ft. In 2019-20, Avenue Supermarts opened 38 new stores during the year. In FY 2020-21, 22 new stores were added and two of the older stores were converted in fulfillment center for its Subsidiary Company, Avenue E-commerce Limited. As of March 31, 2021 Company had 39 distribution centres and 7 packing centres. During the year 2021-22, Company expanded operations by adding a record of 50 new stores. It expanded service coverage to include over 500 pin codes in 9 cities, Mumbai Metropolitan Region, Pune, Bangalore, Hyderabad, Ahmedabad, Surat, Vadodara, Bhopal, and Indore. As of 31st March, 2022 Company had 40 distribution centres and 7 packing centres. During the year 2022-23, Company expanded operations by adding 40 new stores with a total of 324 stores as of 31st March, 2023. In 2023-24, Company opened 41 new stores thus taking the total store count to 365. The Company opened 50 new stores taking the total store count to 415 in FY 24-25.